ISMCollegePlanning.org Trusted Advice for Smarter Choices! Planning Ahead Can Save You Time & Money...

ISMCollegePlanning.orgTrusted Advice for Smarter Choices!

Planning Ahead Can Save You Time & Money

Funding Your Education Wisely


College Dreams

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Wrong Choices May Ruin Dreams

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Questions Will Arise

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We’ll Help You Understand…Value and Cost of Postsecondary Education

Choosing the Right Career & College for You

Financial Aid Types & Sources

The FAFSA

How College Cost is Presented

Social Media

Next Steps

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Value and Cost of Postsecondary

Education

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The Value of Higher Education

Source: Bureau of Labor Statistics, Current Population Survey7

Source: Current Population Survey, U.S. Department of Labor, U.S. Bureau of Labor Statistics


Cost of Higher Education70% of college graduates have college-related debt

Average college related debt $35,200

50% are surprised by how much they owe

Student Loan Debt has grown to $1.2 trillion as of June 2015Fidelity, Cost-Conscious College Graduates - (https://www.fidelity.com/static/dcle/welcome/documents/Fidelity-College-Grad-Study.pdf)Federal Reserve Bank of New York – (http://www.newyorkfed.org/householdcredit/2015-q2/data/pdf/HHDC_2015Q2.pdf)

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Choosing the Right Career and College for

You


Choosing Your CareerInvestigate career options using free online tools

Find out if a career is right for you Job Shadowing Volunteering Internships

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Choosing Your SchoolCollege Navigator

Factors to Consider Cost Location

State, Region Suburban, Urban, Rural

SizeDegree and Major

OptionsReligious Affiliation

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Choosing Your School

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Wealth of InformationAdmissions ProfileAverage Cost by

Income RangesGraduates per

ProgramCampus Safety

Statistics


The Right ChoiceThe key is finding a school that offers the right major AND is a good fit!

Changing majors or schools may add extra years to college, which means extra expenses

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Financial Aid Sources and Types


Sources of Funds

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Federal Government

State Government

College/University

Private Donors


Types of Financial Aid

Gift AidScholarshipsGrants

Self-HelpEmployment (Work Study)SavingsLoans

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ScholarshipsColleges & Universities Need Based versus Merit Based

Local & Community Private Businesses, Community

Foundation, Civic Organizations, Church Groups, School Counselor, Place of Employment

FREE National Search Sites

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Scholarship TipsCreate Scholarship ResumeGet OrganizedScholarship folderSample essays Identify deadlinesBalance Time

Beware of Scams

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Spend 2-4 hours per week searching for scholarships


Scholarships – Get Creative!There’s something for everyone!Have fun searching your favorite things.

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GrantsFederal Federal Pell Grant (Max: $5,775) Federal Supplemental Educational

Opportunity Grant (FSEOG) ($1k – $4k) TEACH Grant ($4,000)

State 21st Century Scholars Frank O’Bannon Grant

College or University

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Benefits of Work-Study Money can be used for education related

expenses to help keep debt down Money earned won’t count against you

on your FAFSA the next year Gain experience and references

Saving for College Investigate Savings Plan Options Set a savings goal Continue saving through college

Work-Study & Savings

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RememberLoans MUST Be Repaid!

Education LoansFederal Direct Loan (4.29%, 1.068% fee) SubsidizedUnsubsidized

Federal Parent Loan for Undergraduate Students (PLUS) (6.84%, 4.272% fee)

Private Education Loans (Varies)

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(Interest Rate for loans disbursed on or after 7/1/15, Loan Fees for loans disbursed between 10/1/15 – 9/30/16)


Free Application for Federal Student Aid

(FAFSA)

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FAFSA.gov

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The Importance of the FAFSAFree Application for Federal Student Aid (FAFSA)

Currently the the Most Important form when applying for Financial Aid

Basis for determining eligibility for:Federal Funds (Grants, Scholarships, Loans and

Work Study)State of Indiana (Grants and Scholarships)Potential Institutional Funds (Need-Based)

Determines EFC25


What is EFC? EFC = Expected Family Contribution.

Two components: Parent contribution Student contribution

Calculated using data from the FAFSA and a federal formula.

Amount family can reasonably be expected to contribute to the student’s education.

Stays the same regardless of college.26


How College Cost is Presented


Net Price CalculatorsProvide estimates of Financial Aid Packages to help families make informed decisions

Cost of Attendance

– Gift Aid (Grants & Scholarships)

= Net Price

Colleges are required to include a net price calculator on their website

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Net Price Calculatorshttp://collegecost.ed.gov/

netpricecenter.aspx

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Sample net price calculator data from an Indiana public institution

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Expected Salary & Debt ImpactInvestigate your expected salary

Hoosier Hot 50 Jobs

Understand the impact of borrowingStudent Loan Game Plan

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Simple Comparisons School A School B Cost of Attendance*

Federal Gift-Aid State Gift-Aid Institutional Gift-Aid Other Gift-Aid

Work-Study

Loans

Direct Subsidized Direct Unsubsidized PLUS Loan Private Loan

Total Loans

Other * Includes Tuition, Room and Board, Supplies, and Other Costs

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Comparison TipsFederal aid typically the same but may varyState aid varies based on school type and grant program Institutional aid varies from school to schoolReview the impact of housing options on both cost and aid

Remember to include your EFC when comparing college costs

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Social Media


Professional Online PresenceAppropriate email address, such as [email protected]. Review social media accounts removing inappropriate material and anything that may be misinterpreted. Be engaging and personal

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Evaluation of Scholarship ApplicantsWhen reviewing a scholarship applicant’s online presence, the scholarship providers look for the following information: To determine whether the applicant demonstrates

good judgment (58%) Provocative or inappropriate photographs or remarks

(58%) Illegal activities, such as underage drinking and use

of narcotics (50%) To get to know the applicant better (42%)

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Survey of 300 National Scholarship Providers Association (NSPA) members who provide more than $1 Billion in scholarships


Evaluation of Scholarship ApplicantsScholarship providers review online content 25% of scholarship providers selected an applicant 33% denied an applicant a scholarship

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Next Steps

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ISMCollegePlanning.org

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We’ll Help…Provide us with your Name and E-Mail and we’ll provide you with advice on…

Investigating the right career pathChoosing the right collegeSearching for scholarshipsCompleting financial aid forms, and more!

Get started now at:

ISMCollegePlanning.org

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What do I do now?Stay in touch with school counselor

Register for and take SAT and/or ACT

Begin scholarship searches

Pay attention to applications & deadlines

Go on campus visits

Attend college fairs

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ISM on Social MediaFacebook www.fb.com/ISMCollegePlanning

Twitter @ISM_CollegePlan

Others Instagram –

www.Instagram.com/ISMCollegePlanning Pinterest - www.Pinterest.com/ISMCollegePlan

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[email protected]

317-715-9007

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ISMCollegePlanning.org Trusted Advice for Smarter Choices! Planning Ahead Can Save You Time & Money...

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